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Published Date: 2015-09-28Number of Pages: 155

Coating Resins Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Coating Resins Market: Snapshot

Steady infrastructural development and urbanization witnessed in Asia Pacific have created demand for advanced building materials. This provides remunerative opportunities for the coating resins manufacturers in Asia Pacific. The region is also reporting a significant rise in the construction activities in residential as well as non-residential sectors. This in turn is fueling demand for coating resins. Besides this, the market is also projected to gain from the rising demand from the automotive industry, states Transparency Market Research (TMR). 

Despite witnessing positive growth, volatility in raw material prices is expected to dampen the growth of the Asia Pacific coating resins market to an extent. Nevertheless, the rising infrastructural development and construction activities in Vietnam will fuel opportunities for the market’s growth in the near future.

According to TMR, the Asia Pacific coating resins market stood at US$4.3 bn in 2014. Exhibiting a CAGR of 5.9%, the market is expected to reach US$7.2 bn by the end of 2023.

Rapid Urbanizations Fuels Coating Resins Demand from China

Regionally, China is currently the leading consumer of coating resins in Asia Pacific. In 2014 it was the leading revenue generator for the Asia Pacific coating resins market. China, with its strong infrastructure and huge population base, has thus proven to be a fertile ground for the sales of coating resins. These are the key factors driving the construction industry in the country, which is subsequently fuelling demand for coating resins. The increasing demand for ship repair and maintenance will also create lucrative prospects for the coating resins manufacturers in China. As per TMR, the marine industry in China is likely to report the highest demand for coating resins. By volume, China contributed over 59.5% to the coating resins market in Asia Pacific.

Besides China, India will also emerge as one of the most lucrative markets for coating resins. The market in India will be driven by the development of innovative and environmentally sustainable technologies. The demand for coating resins is also rising at a considerable pace in Indonesia and Malaysia. As per TMR, robust construction activities and the expanding marine and automotive segments will fuel demand for coating resins in Vietnam.

Rising Building and Construction Activities in Asia Pacific to Fuel Demand for Coating Resins

On the basis of end users, industries such as marine, building and construction, electronics, furniture, automotive, and others report the highest demand for coating resins. Of these, the usage of coating resins has been significantly rising in the construction and building industry. It therefore emerged as the largest end user in 2014 holding over 38.2% in terms of volume. Rising construction activities in emerging economies such as India, China, Singapore, and Malaysia significantly contributed to the growth witnessed by the coating resins market in Asia Pacific.

The automotive industry also reports high demand for coating resins, and thus emerged as the second-largest end user segment in 2014. Economic growth across major economies has significantly boosted the demand from the automotive industry in the region. Since coating resins are applied to protect metal and plastic components in vehicles, their demand is expected to rise in response to the expanding automotive industry. However, TMR projects the marine industry to report the fastest growth during the course of the forecast period.

Some of the leading companies operating in the market are PT. Inawan Chemtex Sukses Abadi, Nuplex Industries Ltd., Akzo Nobel N.V., Evonik Industries, BASF SE, Arkema S.A., DIC Corporation, Eternal Resin Co. Ltd., Royal Chemie Indonesia Tbk, Worldwide Resins & Chemicals Sdn Bhd, Royal DSM N.V., PT. Citra Resins Industries, and PT. Diachem Resins Indonesia.


Chapter 1 Preface

  • Report Description
  • Research Scope
  • Assumptions
  • Market Segmentation
  • Research Methodology

Chapter 2 Executive Summary

  • Asia Pacific Coating Resins Market, 2014 - 2023, (Kilo Tons) (US$ Mn)
  • Coating Resins: Market Snapshot 

Chapter 3 Coating Resins Market – Industry Analysis

  • Introduction
  • Value Chain Analysis
  • Market Drivers
  • Driver 1 – Growth in Building & Construction Market in Asia Pacific to Propel Demand for Coating Resins
  • Driver 2 – Expansion of Automotive Industry in Asia Pacific to Boost Coating Resins Market
  • Restraints
  • Restraint 1 – Volatility in Prices of Raw Materials Expected to Dampen Growth of Asia Pacific Coating Resins Market
  • Restraint 2 – Strict Governmental Regulations in Asia Pacific to Hamper Market Growth
  • Opportunity
  • Opportunity 1 – Vietnam Expected to Create Lucrative Market Opportunities for Coating Resins
  • Porter’s Five Forces Analysis
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Threat of New Entrants
  • Threat of Substitutes
  • Degree of Competition
  • Coating Resins: Market Attractiveness Analysis
  • Coating Resins: Company Market Share Analysis, 2014

Chapter 4 Raw Material and Price Trend Analysis

  • Raw Material Analysis – Manufacturing/Extraction Process
  • Raw Material Price Trends, 2014 – 2023 (US$/Ton)
  • Coating Resins Price Trends, 2014 – 2023 (US$/Ton)

Chapter 5 Market Segmentation – Technology Analysis

  • Asia Pacific Coating Resins Market – Technology Analysis
  • Asia Pacific Solventborne Coating Resins Market 
  • Asia Pacific High Solids/Radiation Cured Coating Resins Market 
  • Asia Pacific Powder Coating Resins Market 
  • Asia Pacific Other Coating Resins Market 

Chapter 6 Market Segmentation – Product Segment Analysis

  • Asia Pacific Coating Resins Market – Product Segment Analysis
  • Asia Pacific Acrylic Coating Resins Market 
  • Asia Pacific Alkyd Coating Resins Market 
  • Asia Pacific Epoxy Coating Resins Market 
  • Asia Pacific Unsaturated Polyester Coating Resins Market 
  • Asia Pacific Urethane Coating Resins Market 
  • Asia Pacific Others Coating Resins Market 

Chapter 7 Market Segmentation – End-user Analysis

  • Asia Pacific Coating Resins Market – End-user Analysis
  • Asia Pacific Coating Resins Market for Building & Construction
  • Asia Pacific Coating Resins Market for Automotive
  • Asia Pacific Coating Resins Market for Marine
  • Asia Pacific Coating Resins Market for Electronics
  • Asia Pacific Coating Resins Market for Furniture
  • Asia Pacific Coating Resins Market for Others

Chapter 8 Market Segmentation – Country Analysis

  • Asia Pacific Coating Resins – Market Snapshot
  • China Coating Resins Market – Technology Analysis
  • China Coating Resins Market – Product Segment Analysis
  • China Coating Resins Market – End-user Analysis
  • India Coating Resins Market – Technology Analysis
  • India Coating Resins Market – Product Segment Analysis
  • India Coating Resins Market – End-user Analysis
  • Indonesia Coating Resins Market – Technology Analysis
  • Indonesia Coating Resins Market – Product Segment Analysis
  • Indonesia Coating Resins Market – End-user Analysis
  • Malaysia Coating Resins Market – Technology Analysis
  • Malaysia Coating Resins Market – Product Segment Analysis
  • Malaysia Coating Resins Market – End-user Analysis
  • Singapore Coating Resins Market – Technology Analysis
  • Singapore Coating Resins Market – Product Segment Analysis
  • Singapore Coating Resins Market – End-user Analysis
  • Thailand Coating Resins Market – Technology Analysis
  • Thailand Coating Resins Market – Product Segment Analysis
  • Thailand Coating Resins Market – End-user Analysis
  • Vietnam Coating Resins Market – Technology Analysis
  • Vietnam Coating Resins Market – Product Segment Analysis
  • Vietnam Coating Resins Market – End-user Analysis
  • Rest of Asia Pacific Coating Resins Market – Technology Analysis
  • Rest of Asia Pacific Coating Resins Market – Product Segment Analysis
  • Rest of Asia Pacific Coating Resins Market – End-user Analysis

Chapter 9 Company Profiles

  • Akzo Nobel N.V.
  • Arkema S.A.
  • Allnex Belgium SA/NV
  • BASF SE
  • DIC Corporation
  • Eternal Resin Co. Ltd.
  • Evonik Industries 
  • Nuplex Industries Ltd.
  • PT. Citra Resins Industries
  • PT. Diachem Resins Indonesia
  • Royal DSM N.V.
  • Royal Chemie Indonesia Tbk
  • Worldwide Resins & Chemicals Sdn Bhd
  • PT. Inawan Chemtex Sukses Abadi

Chapter 10 Primary Research – Key Findings

Coating resins are primary polymer compounds used in producing different types of coatings. Coating resins are advanced materials exclusively used in various end-user industries such as building & construction, automotive, marine, electronics, and furniture. Building & construction was the largest end-user segment of the coating resins market in Asia Pacific in 2014. However, marine is likely to be the fastest growing segment of the coating resins market in the region by the end of 2023. Acrylics was the largest product segment in the coating resins market in Asia Pacific in 2014. The threat of substitutes in the technology segment is expected to be high in the coating resins market in Asia Pacific due to increasing use of waterborne and powder technologies over solventborne.

The report estimates and forecasts the coating resins market on regional and country levels. The study provides forecast from 2015 to 2023 based on volume (Kilo Tons) and revenue (US$ Mn). 

The study offers a comprehensive view of the coating resins market by dividing it into product six segments: acrylics, alkyds, epoxies, unsaturated polyesters, urethanes, and others. Furthermore, the coating resins market has been segmented on the basis of technology into solventborne, waterborne, high solids/radiation cured, powder, and others. In terms of end-user, the coating resins market in Asia Pacific has been segmented into building & construction, automotive, marine, electronics, furniture, and others. Technology, product and end-user segments have been analyzed based on historic, present, and future trends. The market has been estimated from 2015 to 2023 in terms of volume (Kilo Tons) and revenue (US$ Mn). Regional segmentation includes the current and future demand for coating resins in Asia Pacific. Additionally, the report includes country-level analysis in terms of volume and revenue for the product, technology, and end-user segments. Key countries such as China, India, Indonesia, Malaysia, Singapore, Thailand, Vietnam, and Rest of Asia Pacific are included in the study. Market segmentation includes demand for individual products, technology, and end-users in all the countries in Asia Pacific.

The report comprises a comprehensive value chain analysis, which provides a broad view of the market. It also provides detailed information about value addition at each stage of the value chain. The report covers drivers and restraints of the coating resins market along with their impact on demand during the forecast period. It also includes opportunities in the coating resins market at the regional level.

The report includes Porter’s Five Forces model to gauge the degree of competition in the coating resins market in Asia Pacific. The report encompasses a qualitative write-up on market attractiveness analysis, wherein applications have been analyzed based on attractiveness. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated to derive general attractiveness of the market. The report includes price trend analysis of raw materials (maleic anhydride, methyl methacrylate, ethylene glycol, and bisphenol A) and coating resins from 2014 to 2023.

Secondary research sources that were typically referred to include, but were not limited to, company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.

In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents bulk of the research efforts, supplemented by an extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and reinforcing our secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.

The report covers a detailed competitive outlook that includes market share and profiles of key players operating in Asia Pacific. Key players profiled in the report include Allnex Belgium SA/NV, Royal DSM N.V., Nuplex Industries Ltd., DIC Corporation, BASF SE, Evonik Industries, Arkema S.A., and Eternal Resin Co. Ltd. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview.

The coating resins market in Asia Pacific has been segmented as follows:

  • Coating Resins Market - Asia Pacific Product Segment Analysis
    • Acrylics
    • Alkyds
    • Epoxies
    • Unsaturated polyesters
    • Urethanes
    • Others (Including amino coating resins, etc.)
  • Coating Resins Market – Asia Pacific Technology Analysis
    • Solventborne
    • Waterborne
    • High solids/radiation cures
    • Powder
    • Others (Including hybrid technology, etc.)
  • Coating Resins Market – Asia Pacific End-user Analysis
    • Building & construction
    • Automotive
    • Marine
    • Electronics
    • Furniture
    • Others (Including aerospace, etc.)
  • Coating Resins Market – Asia Pacific Country Analysis
    • China
    • India
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • Vietnam
    • Rest of Asia Pacific


 
 
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